Medivation Inc. (MDVN) Given Hold Rating at Cowen and Company
“Due to the September 28, 2016 acquisition of Medivation by Pfizer Inc., we are.”,” the firm’s analyst wrote.
Other research analysts have also issued reports about the company. Jefferies Group reiterated a hold rating and set a $56.00 price target on shares of Medivation in a report on Thursday, July 7th. Wedbush reiterated an outperform rating and set a $66.00 price target (up from $63.00) on shares of Medivation in a report on Tuesday, July 12th. BMO Capital Markets upped their price target on Medivation from $67.16 to $81.50 and gave the stock a market perform rating in a report on Tuesday, August 23rd. Maxim Group lowered Medivation from a buy rating to a hold rating and upped their price target for the stock from $76.00 to $81.50 in a report on Tuesday, August 23rd. Finally, Leerink Swann reiterated a hold rating on shares of Medivation in a report on Thursday, June 30th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $73.80.
Medivation (NASDAQ:MDVN) opened at 81.44 on Wednesday. The firm’s market cap is $13.51 billion. The stock’s 50 day moving average is $77.41 and its 200 day moving average is $61.39. Medivation has a one year low of $26.41 and a one year high of $81.48.
Medivation (NASDAQ:MDVN) last announced its earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The firm earned $206 million during the quarter, compared to analysts’ expectations of $214.52 million. Medivation had a positive return on equity of 17.57% and a negative net margin of 17.24%. The company’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.58 earnings per share. On average, equities research analysts expect that Medivation will post $1.27 earnings per share for the current year.
Institutional investors have recently bought and sold shares of the stock. Wolverine Asset Management LLC boosted its position in Medivation by 482.9% in the second quarter. Wolverine Asset Management LLC now owns 3,346 shares of the biopharmaceutical company’s stock valued at $201,000 after buying an additional 2,772 shares in the last quarter. Sanctuary Wealth Advisors LLC purchased a new position in Medivation during the second quarter valued at about $3,411,000. Royal Bank of Canada boosted its position in Medivation by 13.1% in the second quarter. Royal Bank of Canada now owns 26,669 shares of the biopharmaceutical company’s stock valued at $1,608,000 after buying an additional 3,090 shares in the last quarter. IFP Advisors Inc boosted its position in Medivation by 22.1% in the second quarter. IFP Advisors Inc now owns 2,155 shares of the biopharmaceutical company’s stock valued at $130,000 after buying an additional 390 shares in the last quarter. Finally, Sterling Capital Management LLC purchased a new position in Medivation during the second quarter valued at about $332,000. Institutional investors and hedge funds own 87.55% of the company’s stock.
Medivation Company Profile
Medivation, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapies to treat serious diseases for which there are limited treatment options. The Company, in collaboration with Astellas Pharma, Inc (Astellas), has one commercial product, XTANDI (enzalutamide) capsules (XTANDI).
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